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Trump Expected to Achieve First Major Legislative Victory on Cryptocurrency Policy Next Week
Summary: According to Politico, Trump is expected to achieve his first major legislative victory on cryptocurrency policy next week. Republicans in the House are preparing to pass a bill previously submitted in the Senate to establish new regulatory rules for stablecoins. The U.S. House is expected to vote early next week on the 'GENIUS Act' proposed ...
According to Politico, Trump is expected to achieve his first major legislative victory on cryptocurrency policy next week. Republicans in the House are preparing to pass a bill previously submitted in the Senate to establish new regulatory rules for stablecoins.
The U.S. House is expected to vote early next week on the 'GENIUS Act' proposed in the Senate. The bill aims to establish the first regulatory framework in the U.S. for stablecoins pegged to the dollar. The bill passed in the Senate last month with bipartisan support and is poised to become the first major cryptocurrency regulation adopted by the U.S. Congress.
Trump's signing of this stablecoin bill could provide a significant boost to the long-struggling cryptocurrency industry to enter the mainstream. Cryptocurrency supporters hope that the government endorsement, along with the customized regulatory framework they have been actively lobbying Congress for over the years, will enhance the legitimacy of cryptocurrencies, promote adoption, and open the door for traditional financial institutions to further engage in digital assets.
This legislation could also benefit the Trump family itself: his sons founded a stablecoin issuing company last year.
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Link: Trump Expected to Achieve First Major Legislative Victory on Cryptocurrency Policy Next Week [Copy]
